All Ministries and Non-profits have one thing in common: they need to raise funds. Fundraising is the key to growth, and an absolute necessity to offset donor attrition. Why do some donors stay while others leave? Donors wants and needs today are changing as is their reasons for giving.
There is an old saying about fundraising that states "the day you win a new donor you get one day closer to losing them". Why is that?
There are many reasons donors leave:
- Donor Fatigue: They lose their original excitement about the organization, possibly even bored with the same old pitch and materials
- Their experience as a donor doesn't match their expectations when they first joined
- Some have a change of economic circumstances
- Some donors believe that giving to a ministry will bring about a change in their lives. If that doesn't happen they leave
There are many reasons why donors stop giving. The key to improving donor retention is found in the reason why they joined in the first place!
The reality is that there is a direct correlation to the reason they give and how long they stay. The fact is that there are activities that Ministries and Non-profits do that attract great donors that stay and grow, and other activities they do that attract donors that leave quickly.
It's easy to make the case that all donors are good and we are not suggesting that isn't true. But given the opportunity to identify what you do to attract your best donors, wouldn't you want to do more of that?
Knowing the reason for giving will also help you know how to satisfy their "deepest felt need" and keep them interested in your ministry
How Well Do You Know Your Donors?
With technology today there is literally no question about donor motivation, likes, dislikes, key areas of interest, spiritual maturity, and reasons for giving to your Ministry that can't be answered through research.
We have experience in both qualitative and quantitative research that will inform strategies to attract more of your best donors and keep engaged the ones you have.
Knowing your donor base and segmenting by behavior and vision alignment will help you identify which donors are your best prospects to invite to participate in the ministry at a greater level.
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